Dominari (NASDAQ:DOMH) Board of Directors Authorizes Share Buyback Plan

Dominari (NASDAQ:DOMH) announced that its Board of Directors has approved a share buyback plan on Thursday, September 17th, RTT News reports. The company plans to repurchase $5,000.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9,593,246.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Dominari Trading Up 13.5%

Shares of NASDAQ DOMH traded up $0.29 during trading hours on Thursday, reaching $2.44. The stock had a trading volume of 540,477 shares, compared to its average volume of 148,854. The firm has a 50-day moving average of $2.51 and a 200-day moving average of $2.90. The firm has a market cap of $59.15 million, a price-to-earnings ratio of -0.45 and a beta of 0.87. Dominari has a fifty-two week low of $1.91 and a fifty-two week high of $8.40.

Dominari (NASDAQ:DOMH) last announced its earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.13. Dominari had a negative net margin of 51.61% and a negative return on equity of 235.37%. The business had revenue of $16.79 million for the quarter, compared to analysts’ expectations of $16.79 million.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Dominari from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dominari in a report on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Buying and Selling at Dominari

In other Dominari news, President Kyle Michael Wool acquired 50,000 shares of the stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $2.02 per share, with a total value of $101,000.00. Following the transaction, the president owned 4,261,828 shares of the company’s stock, valued at approximately $8,608,892.56. This trade represents a 1.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Hayes acquired 50,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $2.02 per share, with a total value of $101,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,550,873 shares in the company, valued at $9,192,763.46. This trade represents a 1.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 55.30% of the company’s stock.

Dominari Company Profile

Dominari Holdings Inc is a diversified holding company that operates primarily through subsidiaries focused on financial services and investment activities. The company’s business includes securities brokerage, investment banking, wealth management and related capital-markets services.

Its principal operating platform, Dominari Securities LLC, is a U.S. broker-dealer that provides services to institutional and individual clients, including securities transactions, investment research, corporate finance and advisory support.